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Advancing the Concepts & Practices of Information Resources Management in Modern Organizations

Neural Networks for Automobile Insurance Pricing

Neural Networks for Automobile Insurance Pricing
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Author(s): Ai Cheo Yeo (Monash University, Australia)
Copyright: 2005
Pages: 5
Source title: Encyclopedia of Information Science and Technology, First Edition
Source Author(s)/Editor(s): Mehdi Khosrow-Pour, D.B.A. (Information Resources Management Association, USA)
DOI: 10.4018/978-1-59140-553-5.ch369

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Abstract

In highly competitive industries, customer retention has received much attention. Customer retention is an important issue, as loyal customers tend to produce greater cash flow and profits, are less sensitive to price, bring along new customers and do not require any acquisition or start-up costs.

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